News Article

Amazon Effect Sparks Deals for Software-Tracking Firms

A growing number of companies are paying to track in real time everything from truckloads of pork chops to shipping containers full of exercise equipment. Logistics providers, retailers, and suppliers are inking deals with software firms that use location data and weather and traffic information to monitor shipments and alert customers to events that could hold up delivery, such as a loaded truck sitting in a yard for more than an hour.

On Tuesday, logistics software company Convey, which specializes in last-mile delivery tracking, said it raised $8.25 million in a Series B funding round led by Techstars Venture Capital Fund. The firm, whose platforms are largely used by retail clients such as Wal-Mart’s Jet.com, plans to focus on international supply chains and expand into additional markets, such as medical devices and construction and building materials.